Nomad announces new cohort of investors to help grow security-first cross-chain messaging solution
We announced Nomad’s seed funding in April, but that was just a preview of the full roster of strategic partners who have invested in Nomad. Today we’re happy to publicly announce for the first time that Coinbase Ventures, Crypto.com Capital, Polygon, OpenSea, Wintermute, Gnosis, and Aglaé are all part of the cohort of seed round investors in Nomad.
We’re excited to be working with some of the most trusted brands in the crypto and venture worlds to scale our engineering, product development, and marketing efforts, and bring trust-minimized cross-chain messaging to bridges and other cross-chain applications (xApps).
Making cross-chain communication safer
At Nomad, our goal is to make it safer to communicate across blockchains. We believe that secure cross-chain messaging is the key to uniting DeFi ecosystems and unlocking the true power and potential of block space, wherever it may be. With $1.5B in bridge hacks happening within the last 12 months, many people, protocols, and DAOs are looking for an interoperability solution that prioritizes the safety and security of their funds/cross-chain messages.
This is why we designed Nomad in a way that minimizes the trust assumptions required for bridging. While many popular validator-based bridges can be compromised or abused via validator coordination, Nomad’s optimistic verification allows any single, honest watcher to prevent fraud via on-chain proofs, and keep the entire system (and your funds/messages) safe.
James Prestwich, our CTO, said it succinctly: “Nomad’s optimistic security model helps reduce the trust assumptions required for cross-chain communication, while still being extensible enough to be broadly applicable.”
More than just a token bridge
While the Nomad token bridge has already become quite popular with users looking for the security of optimistic verification, Nomad’s protocol can be utilized for any application that requires secure cross-chain message passing.
In the words of Anurag Arjun (Co-Founder, Polygon), “Because Nomad provides a trust-minimized protocol for cross-chain messaging, there are potential applications that go well beyond just token bridging. We look forward to seeing some of those exciting new use cases come to life on-chain.”
While we don’t yet know what all of the killer use cases for cross-chain messaging will be, teams like Connext have already built on top of Nomad and are opening up a world of possibilities for developers looking to build their own killer cross-chain applications (xApps).
With the help of all of our strategic partners and investors, we look forward to building a world in which it is safer, easier, and more efficient for blockchains to work together.
About Nomad
Nomad is an optimistic interoperability protocol that enables secure cross-chain communication. The goal of Nomad is to provide the connective tissue to empower end-users to interact securely across blockchains and developers to build cross-chain applications (or xApps) like token bridges, native cross-chain assets, cross-chain governance applications, and more.
Nomad is already live on Ethereum Mainnet, Moonbeam, Evmos, Avalanche, Gnosis Chain and we are rapidly expanding to many other chains. We’re funded by some of the top VC firms and angels in the space and are growing our team to scale out this vision for an interconnected topology of blockchains. If you believe the present and future are multichain, come build with us!
